Craig Shesky - Mar 20, 2023 Form 4 Insider Report for TMC the metals Co Inc. (TMC)

Signature
/s/ Jeffrey Cohan, Attorney-in-Fact
Stock symbol
TMC
Transactions as of
Mar 20, 2023
Transactions value $
-$89,753
Form type
4
Date filed
4/5/2023, 04:02 PM
Previous filing
Dec 8, 2022
Next filing
Jun 9, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TMC Common Shares Award $0 +237K +36.13% $0.00 894K Mar 20, 2023 Direct F1
transaction TMC Common Shares Sale -$89.8K -126K -14.05% $0.71 768K Mar 28, 2023 Direct F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction TMC Restricted Stock Units Award $0 +563K $0.00 563K Mar 20, 2023 Common Shares 563K Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Consists of restricted stock units ("RSUs"). Each RSU represents the right to receive one common share upon vesting. The RSUs were granted and vested upon issuance as part of the Issuer's short-term incentive plan.
F2 The sales reported in this Form 4 were effected to cover tax withholding obligations in connection with the vesting of RSUs that were granted on March 20, 2023 pursuant to an automatic "sell to cover" provision under which the Reporting Person did not have discretion included in the RSU Agreement.
F3 The price reflects the average selling price of the common shares sold. These common shares were sold in multiple transactions at prices ranging from $0.70 to $0.7825 per common share. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of common shares sold at each price.
F4 Each RSU represents the right to receive one common share upon vesting.
F5 The RSUs were granted as part of the Issuer's long-term incentive plan and vest over a three year period as follows, subject to continued service through each vesting date: 1/3 on the first anniversary of March 20, 2023 (the "Grant Date"), 1/3 on the second anniversary of the Grant Date and 1/3 on the third anniversary of the Grant Date.